Red Meat Market
Red Meat Market Size, Share & Trends Analysis Report by Type (Beef, Pig, Sheep & Goat and Venison), by Form (Canned, Fresh/Chilled, Frozen, and Processed), and by Distribution Channel (B2B and B2C), Forecast Period (2024-2031)
Red meat market is anticipated to grow at a CAGR of 6.4% during the forecast period (2024-2031). A major factor supporting the growth of the market is the increasing demand for protein-rich diets, particularly in emerging economies with rising disposable incomes and changing dietary preferences. Red meat is typically richer in certain nutrients like protein, iron, and various vitamins compared to white meat, which comes from poultry like chicken and turkey.
Market Dynamics
Navigating Evolving Consumer Trends in the Global Red Meat Market
Consumer preferences and dietary trends play a crucial role in shaping the global red meat market. As health consciousness rises, there's a growing trend towards healthier and more sustainable eating habits. This includes increased interest in plant-based diets and alternative protein sources. Furthermore, cultural shifts and changing lifestyles impact the demand for red meat products. Preferences for leaner cuts, organic options, and ethically sourced meats are also influencing purchasing decisions. Understanding and adapting to these evolving consumer preferences are essential for businesses operating in the red meat market to remain competitive.
Market Segmentation
- Based on type, the market is segmented into beef, pig, sheep & goat and venison.
- Based on distribution channel, the market is segmented into B2B and B2C.
- Based on form, the market is segmented into canned, fresh/chilled, frozen, and processed.
B2C is Projected to Emerge as the Largest Segment
The B2C segment is expected to hold the largest share of the market. The primary factor supporting the segment's growth includes the increasing adoption of e-commerce and online retail channels. As more consumers embrace digital platforms for shopping, the accessibility and convenience of purchasing red meat products online have expanded significantly. Online retailers offer a wide range of options, including various cuts, grades, and specialty meats, catering to diverse consumer preferences. Additionally, the availability of home delivery services and the convenience of doorstep delivery further enhance the appeal of buying red meat online.
Beef Segment to Hold a Considerable Market Share
The beef segment holds a significant market share in the global red meat market for several reasons. Beef enjoys broad consumer acceptance globally due to its rich flavor and versatility in cooking. It offers a dense nutritional profile, including high-quality protein and essential vitamins and minerals. With a wide range of cuts and products available, beef caters to diverse culinary preferences and cultural traditions. Global production and trade networks ensure consistent supply, while effective marketing campaigns highlight its taste and quality. For instance, in March 2023, JBS US unveiled Pound of Ground Crumbles, an innovative dinner solution featuring frozen, uncooked ground beef. This pioneering product eliminates the necessity for thawing or pre-planning, as it can be cooked directly from the freezer.
Regional Outlook
The global red meat market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).
Global Red Meat Market Growth by Region 2024-2031
Asia-Pacific: Driving Growth in the Global Red Meat Sector
The Asia-Pacific region emerges as the largest and fastest-growing market in the global red meat sector due to a convergence of factors. Rapid urbanization and escalating disposable incomes empower consumers to afford higher-quality food, including red meat. The region's burgeoning population fuels demand for protein-rich options, while evolving dietary preferences towards Westernized diets bolster meat consumption. Expanded retail infrastructure, from supermarkets to online platforms, facilitates accessibility. Trade liberalization and foreign investment further invigorate the market by easing importation. For instance, in November 2023, Tyson Foods unveiled its intentions to construct new manufacturing facilities in China and Thailand, alongside an expansion of its existing facility in the Netherlands. These strategic expansions collectively contribute an additional capacity of over 100,000 tonnes for fully cooked poultry products. The establishment of new plants in China and Thailand is anticipated to generate employment opportunities, with over 700 and 1,000 jobs expected to be created respectively, while the expansion in Europe is projected to add more than 150 jobs to the workforce.
Market Players Outlook
*Note: Major Players Sorted in No Particular Order.
The major companies serving the global red meat market include Hormel Foods Corp., NH Foods Ltd., Sysco Corp., WH Group Ltd., and Conagra Brands, Inc., among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers and acquisitions to stay competitive in the market. For instance, in November 2023, the Competition and Markets Authority (CMA) granted approval for ABP Food Group's acquisition of the Scotbeef meat processing facilities located in Bridge of Allan and Queenslie.
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global red meat market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. Hormel Foods Corporation
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. NH Foods Ltd.
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. Sysco Corporation
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Key Strategy Analysis
4. Market Segmentation
4.1. Global Red Meat Market by Type
4.1.1. Beef
4.1.2. Pig
4.1.3. Sheep & Goat
4.1.4. Venison
4.2. Global Red Meat Market by Form
4.2.1. Canned
4.2.2. Fresh/Chilled
4.2.3. Frozen
4.2.4. Processed
4.3. Global Red Meat Market by Distribution Channel
4.3.1. B2B
4.3.2. B2C
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
5.4.1. Latin America
5.4.2. Middle East & Africa
6. Company Profiles
6.1. Agri Beef Co.
6.2. American Foods Group LLC
6.3. BRF Global
6.4. Cargill, Incorporated.
6.5. Conagra Brands, Inc.
6.6. CTI Foods LLC
6.7. Greater Omaha Packing
6.8. Irish Country Meats
6.9. ITOHAM YONEKYU HOLDINGS INC.
6.10. JBS S.A.
6.11. Keystone Foods LLC
6.12. The Kraft Heinz Company
6.13. Marfrig Global Foods S.A.
6.14. Minerva S.A.
6.15. National Beef Packing Company LLC
6.16. OSI Group LLC
6.17. Smithfield Foods Inc.
6.18. Starzen Co. Ltd.
6.19. The Scottish Goat Meat Co.
6.20. Tönnies Holding ApS & Co. KG
6.21. Tyson Foods, Inc.
6.22. West Liberty Foods LLC
6.23. WH Group Ltd.
1. GLOBAL RED MEAT MARKET RESEARCH AND ANALYSIS BY TYPE, 2023-2031 ($ MILLION)
2. GLOBAL BEEF MEAT MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
3. GLOBAL PIG MEAT MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
4. GLOBAL SHEEP & GOAT MEAT MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
5. GLOBAL VENISON MEAT MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
6. GLOBAL RED MEAT MARKET RESEARCH AND ANALYSIS BY FORM, 2023-2031 ($ MILLION)
7. GLOBAL CANNED RED MEAT MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
8. GLOBAL FRESH/CHILLED RED MEAT MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
9. GLOBAL FROZEN RED MEAT MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
10. GLOBAL PROCESSED RED MEAT MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
11. GLOBAL RED MEAT MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2023-2031 ($ MILLION)
12. GLOBAL RED MEAT VIA B2B MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
13. GLOBAL RED MEAT VIA B2C MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
14. GLOBAL RED MEAT MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
15. NORTH AMERICAN RED MEAT MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
16. NORTH AMERICAN RED MEAT MARKET RESEARCH AND ANALYSIS BY TYPE, 2023-2031 ($ MILLION)
17. NORTH AMERICAN RED MEAT MARKET RESEARCH AND ANALYSIS BY FORM, 2023-2031 ($ MILLION)
18. NORTH AMERICAN RED MEAT MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2023-2031 ($ MILLION)
19. EUROPEAN RED MEAT MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
20. EUROPEAN RED MEAT MARKET RESEARCH AND ANALYSIS BY TYPE, 2023-2031 ($ MILLION)
21. EUROPEAN RED MEAT MARKET RESEARCH AND ANALYSIS BY FORM, 2023-2031 ($ MILLION)
22. EUROPEAN RED MEAT MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2023-2031 ($ MILLION)
23. ASIA-PACIFIC RED MEAT MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2023-2031 ($ MILLION)
24. ASIA-PACIFIC RED MEAT MARKET RESEARCH AND ANALYSIS BY TYPE, 2023-2031 ($ MILLION)
25. ASIA-PACIFIC RED MEAT MARKET RESEARCH AND ANALYSIS BY FORM, 2023-2031 ($ MILLION)
26. ASIA-PACIFIC RED MEAT MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2023-2031 ($ MILLION)
27. REST OF THE WORLD RED MEAT MARKET RESEARCH AND ANALYSIS BY REGION, 2023-2031 ($ MILLION)
28. REST OF THE WORLD RED MEAT MARKET RESEARCH AND ANALYSIS BY TYPE, 2023-2031 ($ MILLION)
29. REST OF THE WORLD RED MEAT MARKET RESEARCH AND ANALYSIS BY FORM, 2023-2031 ($ MILLION)
30. REST OF THE WORLD RED MEAT MARKET RESEARCH AND ANALYSIS BY DISTRIBUTION CHANNEL, 2023-2031 ($ MILLION)
1. GLOBAL RED MEAT MARKET SHARE BY TYPE, 2023 VS 2031 (%)
2. GLOBAL BEEF MEAT MARKET SHARE BY REGION, 2023 VS 2031 (%)
3. GLOBAL PIG MEAT MARKET SHARE BY REGION, 2023 VS 2031 (%)
4. GLOBAL SHEEP & GOAT MEAT MARKET SHARE BY REGION, 2023 VS 2031 (%)
5. GLOBAL VENISON MEAT MARKET SHARE BY REGION, 2023 VS 2031 (%)
6. GLOBAL RED MEAT MARKET SHARE BY FORM, 2023 VS 2031 (%)
7. GLOBAL CANNED MEAT MARKET SHARE BY REGION, 2023 VS 2031 (%)
8. GLOBAL FRESH/CHILLED MEAT MARKET SHARE BY REGION, 2023 VS 2031 (%)
9. GLOBAL FROZEN RED MEAT MARKET SHARE BY REGION, 2023 VS 2031 (%)
10. GLOBAL PROCESSED RED MEAT MARKET SHARE BY REGION, 2023 VS 2031 (%)
11. GLOBAL RED MEAT MARKET SHARE BY DISTRIBUTION CHANNEL, 2023 VS 2031 (%)
12. GLOBAL RED MEAT FOR B2B MARKET SHARE BY REGION, 2023 VS 2031 (%)
13. GLOBAL RED MEAT FOR B2C MARKET SHARE BY REGION, 2023 VS 2031 (%)
14. GLOBAL RED MEAT MARKET SHARE BY REGION, 2023 VS 2031 (%)
15. US RED MEAT MARKET SIZE, 2023-2031 ($ MILLION)
16. CANADA RED MEAT MARKET SIZE, 2023-2031 ($ MILLION)
17. UK RED MEAT MARKET SIZE, 2023-2031 ($ MILLION)
18. FRANCE RED MEAT MARKET SIZE, 2023-2031 ($ MILLION)
19. GERMANY RED MEAT MARKET SIZE, 2023-2031 ($ MILLION)
20. ITALY RED MEAT MARKET SIZE, 2023-2031 ($ MILLION)
21. SPAIN RED MEAT MARKET SIZE, 2023-2031 ($ MILLION)
22. REST OF EUROPE RED MEAT MARKET SIZE, 2023-2031 ($ MILLION)
23. INDIA RED MEAT MARKET SIZE, 2023-2031 ($ MILLION)
24. CHINA RED MEAT MARKET SIZE, 2023-2031 ($ MILLION)
25. JAPAN RED MEAT MARKET SIZE, 2023-2031 ($ MILLION)
26. SOUTH KOREA RED MEAT MARKET SIZE, 2023-2031 ($ MILLION)
27. REST OF ASIA-PACIFIC RED MEAT MARKET SIZE, 2023-2031 ($ MILLION)
28. LATIN AMERICA RED MEAT MARKET SIZE, 2023-2031 ($ MILLION)
29. MIDDLE EAST AND AFRICA RED MEAT MARKET SIZE, 2023-2031 ($ MILLION)
